Infinera officials said the results were better than they expected and credited them to continued strong demand from cable, tier one and wholesale service providers for the company's digital optical networks. In addition, Infinera said the development of its recently launched DTN-X optical network platform remains on track, with trials scheduled for this quarter and volume production set to begin in the second quarter. Meanwhile, there is strong customer interest in the platform, the company said. THE ANALYSIS: Citi analyst Kevin Dennean backed his "Neutral" rating for the stock, saying that while the DTN-X has "significant potential," even if everything…
Berkshire Hathaway Chairman Warren Buffett wanders at the company trade show before his company's annual meeting in Omaha, Nebraska in this April 30, 2011 file photo. Increasing taxes on the wealthy would bring fairness to U.S. taxpayers across the board, billionaire investor Buffett said on January 25, 2012, backing the tax reform that President Barack Obama proposed in his State of the
Mark Zuckerberg was leading a meeting in the Aquarium, one of Facebook's conference rooms, so named because it's in the middle of a huge work space and has glass walls on three sides so everybody can see in. Conference rooms are a big deal at Facebook because they're the only places anybody has any privacy at all, even the bare minimum of privacy the Aquarium gets you. Otherwise the space is open plan: no cubicles, no offices, no walls, just a rolling tundra of office furniture. Sheryl Sandberg, Facebook's COO, who used to be Lawrence Summers' chief of staff at…
A fanatical believer in the self-righting qualities of financial markets, he was the bubble king who allowed the dotcom boom of the late 1990s to get out of hand and then, when plummeting share prices pushed the economy into recession, started the whole process off again, this time in the housing market. As chairman of the Federal Reserve, he cut interest rates and left them at rock-bottom levels for two years.Cheap borrowing costs encouraged Americans to load up on debt to buy homes, even when they had no savings, no income and no job prospects. These so-called sub-prime borrowers were…
Every financial crisis has its totemic moment; a decision that even at the time seems to defy logic and in retrospect is seen as an act of gross stupidity. Yet it takes more than one individual banker, no matter how powerful, to make a crisis and when the historians come to chronicle the Great Recession of 2008-09 the list of guilty men and women will include more than one former knight of the realm. Here, then, is a (far from exhaustive) list of those who might be considered most culpable
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